Growing demand for active pharmaceutical ingredients over the COVID-19 pandemic boosts growth in the global microcrystalline cellulose market
Increasing applications in personal care and cosmetics industries propel market growth
WILMINGTON, Del., Nov. 1, 2022 /PRNewswire/ — The players in the global microcrystalline cellulose market are gaining valuable incremental opportunities over the period of COVID-19 pandemic. This trend is further propelled by rising research and development activities in fields such as pharmaceutical, as well as healthcare. Furthermore, manufacturers are also focusing on enhancing their capacities of manufacturing coatings and water-based paints to diversify revenue streams. In addition to this, rising demand within the global microcrystalline cellulose market can also be ascribed to rising applications of microcrystalline cellulose in various personal care products, including gentle foaming enzyme powders, as well as cleansing powders. According to a recent professional intelligence survey, the global microcrystalline cellulose market is projected to rise at a CAGR of 5.2% over the forecast period of 2021 to 2031.
Growing demand for products in the global microcrystalline cellulose market from the food and beverages sector, as an additive for various products, including dairy and ice creams, meat and fish, and bakery and confectionery, is thrusting growth in the market. Furthermore, the advent of non-wood sourced microcrystalline cellulose products is also creating significant revenue grab opportunities in the market.
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Microcrystalline Cellulose Market – Key Findings of the Report
Increasing Demand from Pharmaceutical Sector: The solutions offered by players and stakeholders working in the global microcrystalline cellulose market are used as active pharmaceutical ingredients or APIs and excipients in the pharmaceutical sector. This trend can be ascribed to properties of the microcrystalline cellulose of high potential for dilution, as well as its ability to effectively bind other materials in the drug formulation. The products in the global microcrystalline cellulose market also help in offering precision in terms of dosage, boosts the drugs’ stability, and enhances its solubility. These properties attract attention of pharmaceutical stakeholders.
Growing Trend of Using Non-Wood Microcrystalline Cellulose: Over the past few years, an emerging trend of using non-wood sourced microcrystalline cellulose products has revolutionized the global microcrystalline cellulose market. These non-wood sourced products are considered to be environmentally friendly and are more easily available. Some of these key non-wood sources include cotton linters, cotton fabric waste, coconut shells, jute, alfa fiber, rice husk, orange mesocarp, roselle fiber, Indian bamboo, ramie, biomass residue of oil palm, sorghum stalks, and soybean husks.
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Microcrystalline Cellulose Market – Growth Drivers
Increasing use of microcrystalline cellulose in pharmaceutical sector boosts growth of the global microcrystalline cellulose market
Rising use of microcrystalline cellulose in food and beverages sector propels market growth
Growing use of microcrystalline cellulose in paints and coatings sector bolsters growth of the market
Microcrystalline Cellulose Market – Key Players
Some of the key companies operational in the global microcrystalline cellulose market include Rayonier Advanced Materials, Avantor Inc., JRS Pharma, Huzhou City Lighu Xinwang Chemical Co., Ltd., Foodchem International Corporation, Maple Biotech Pvt. Ltd., Accent Microcell Pvt. Ltd., Chemfield Cellulose, DuPont, Asahi Kasei Corporation, DFE Pharma, Sigachi Industries Pvt. Ltd., Mingtai Chemical Co., Ltd., Quadra Chemicals, Anhui Sunhere Pharmaceutical Excipients Co., Ltd., and RanQ. Leading players functional in the global microcrystalline cellulose market are adopting various inorganic, as well as organic strategies to capture a larger industry share. Some of these include launching new innovative products, geographical expansion, joint ventures, mergers and acquisitions, and strategic collaborations. These strategies are aiding key players, such as Avantor ad DuPont in enlarging their existing portfolio of products and expand their regional presence.
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Microcrystalline Cellulose Market: Regional Growth Assessment
Europe dominated the landscape of the global microcrystalline cellulose market in 2021. Followed by Europe, other two major contributors for the expansion of the market in recent past were North America and Asia Pacific.
Microcrystalline Cellulose Market: Segmentation
Microcrystalline Cellulose Market, by Raw Material
Microcrystalline Cellulose Market, by End Use Industry
Microcrystalline Cellulose Market, by Route of Synthesis
Microcrystalline Cellulose Market, by Region
Middle East & Africa
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